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Perimeter Medical Imaging AI Announces Second Quarter 2020 Financial Results
TORONTO, CANADA / ACCESSWIRE / October 15, 2020 / Perimeter Medical Imaging AI, Inc. (TSXV:P...
About this update from Perimeter Medical Imaging Ai Inc
[{"type":"text","content":"Perimeter Medical Imaging AI Announces Second Quarter 2020 Financial ResultsTORONTO, CANADA / ACCESSWIRE / October 15, 2020 / Perimeter Medical Imaging AI, Inc. (TSXV:PINK)(FSE:4PC), a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need, today reported financial results for its second quarter ending June 30, 2020 and provided an update on its operations.Jeremy Sobotta, Perimeter's President and Chief Financial Officer, stated, \"We have achieved a number of key milestones in the last few months, including successfully transitioning to a public company and raising approximately $9.4 million in net proceeds from a private placement offering. With the potential for further capital proceeds of approximately $13.5 million from the exercise of associated warrants, along with approximately $8 million of available funding from the grant received from the Cancer Prevention and Research Institute of Texas, we believe Perimeter is well capitalized in order to support our clinical development and commercialization plans.\"Corporate HighlightsOn September 1, 2020, Perimeter announced that Steve Sapot was appointed as its Chief Commercial Officer. Previously, Mr. Sapot was Senior Vice President of Medical Sales at Faxitron, a Hologic Company. His wealth of experience includes leading and scaling sales teams and commercializing capital equipment in breast cancer surgery.In July 2020, Perimeter announced the initiation of its ATLAS AI Project, which will collect images of breast tumors to both train and test its ImgAssist AI technology that is currently under development. Perimeter will install its OTIS™ high-resolution imaging devices at partner sites, and enrollment is already underway at Baylor College of Medicine and M.D. Anderson Cancer Center. The ATLAS AI Project is backed by a US$7.4 million grant from the Cancer Prevention and Research Institute of Texas (CPRIT).Perimeter announced two new appointments to its Board of Directors. Mr. Ian Mortimer, President and Chief Financial Officer at Xenon Pharmaceuticals Inc. (XENE) and Mr. Aaron Davidson, CFO and Senior Vice President of Corporate Development at Profound Medical Inc. (PROF)(PRN) joined the Perimeter Board in July and August, respectively.Summary of Second Quar...